3-Nov-2010 11:58 AM

SATS revenue up 11%, profits mixed in 2QFY2011

Singapore Airport Terminal Services (SATS) revenue up 11% - financial highlights for the three months ended 30-Sep-2010:

  • Revenue*: USD311.5 million, +10.7% year-on-year;
    • Aviation: USD182.2 million, +9%;
    • Non-aviation: USD127.4 million, +14%;
  • Operating profit: USD31.8 million, -3.3%;
  • Profit before tax: USD44.9 million, +13.6%;
  • Net profit: USD35.1 million, +10.5%;
  • Passenger numbers: 8.9 million, +11%;
  • Cargo volume: 377,690 tonnes, +8%;
  • Flights handled: 25,700, +8%;
  • Total assets: USD1,475 million, -0.5%;
  • Total debt: USD17.2 million, -7.9%. [more]

*Based on the conversion rate at USD1 = SGD1.28802

SATS: “The Asian aviation industry is anticipated to remain buoyant in the near term. As such, the group expects its aviation business volumes to remain robust in the third quarter, which is also the traditional peak period, due to the holiday and festive season. The integrated resorts in Singapore and resurgent Asian economies will continue to support growth in the tourism and hospitality sectors, and this augurs well for the group’s gateway and food businesses,” Company statement. Source: SATS, 02-Nov-2010.

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